Elixir Petroleum (ASX: EXR) has been granted a halt by the ASX pending the release of details surrounding a proposed capital raising, with the company's shares placed in pre-open.
Elixir has not yet indicated where the potential capital injection will be allocated, but the company has some very promising interests including holding 100% of the 1.34 million acre Moselle Permit - the largest exploration permit onshore France.
Moselle represents the dominant acreage position in the Saar-Lorraine Basin.
Towards the end of 2011, the company completed 20 months of technical studies on Moselle which fully defined the proven Upper Carboniferous-Triassic petroleum system within the basin.
The halt will remain in place until the earlier of an announcement being made to the market, or the opening of trade on Friday 2 March.